One of the reasons the banks have introduced cheque imaging is because it’s cheaper for then to process them. As such maximising volumes is important as it lowers the average cost.
The marginal cost of an extra cheque would also be a lot cheaper for Monzo to do than their current system
And that’s before we get on to the benefits customers will have such as better service.
Also, why would customers pay, if the feature is available for free everywhere else?
Yep, I’d be happy with a ‘Plus-first’ approach for new features.
In time, I could see things like credit scores & virtual cards trickled down to free accounts, as Plus users get credit cards in open banking and virtual cards attached to Pots.
That said, I don’t think it makes sense to put cheque imaging into Plus- as above, I’d guess it’s a feature that will save Monzo money once the initial cost is sunk, so they’d want to roll it out ASAP.
I also think it’s fair to believe this for new features, rather than continuing to improve the already present at launch features, which I do think is a completely fair expectation.
I really find it baffling that Offers haven’t even changed - that’s just part and parcel of having an offers based incentive right… Time causes offers to change…?!
Hopefully the next month will have some inputs from Monzo
Completely agree - the enhanced budgeting support I get from split/ custom categories has been game changing for me by showing me where my money goes and where I can cut back!
gotta say that’s news to me on the staying “as is” nature of Plus but I only blame myself for not paying attention
I think maybe a lot of us see Monzo as a product tech company who are a bank. I find it weird that a product would exist like this and never be improved /iterated on but then in the banking world that’s exactly how many ‘products’ work.
Maybe it’s a case of people (like me) expecting too much or maybe it’s a muddled company identity
as possible”
